Paymark Payment Technologies & Services Private Limited (Corporate Debtor - CD) was admitted into Corporate Insolvency Resolution Process (CIRP) on December 13, 2024, with Mr. Hansraj Jaria appointed as the Interim Resolution Professional (IRP). A public announcement was made, and the Committee of Creditors (CoC) was constituted. Initially, Youngster Projects Private Limited's resolution plan was approved by the CoC, but they subsequently withdrew due to medical and financial hardship, leading to the forfeiture of their Earnest Money Deposit (EMD). Following this, Standard Capital Markets Limited submitted a new resolution plan, which was unanimously approved by the CoC with a 100% voting share.
The Corporate Debtor (Paymark Payment Technologies & Services Private Limited) was admitted into Corporate Insolvency Resolution Process (CIRP) by an order dated 13th December, 2024.
Mr. Hansraj Jaria was appointed as the Interim Resolution Professional (IRP) for the Corporate Debtor.
A public announcement of the CIRP initiation was published on 19th December, 2024, in Business Standard (English) and Aajkal (Bengali) and Ekdin (Bengali) newspapers.
The last date for submission of claims as per the public announcement was 01st January, 2024.
The Committee of Creditors (CoC) was constituted by the IRP on 8th January, 2025, comprising one unsecured Financial Creditor.
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The last date for submissions of claim as per…
The Corporate Debtor (Paymark Payment…
Paymark Payment Technologies & Services Private Limited (Corporate Debtor - CD) was admitted into Corporate Insolvency Resolution Process (CIRP) on December 13, 2024, with Mr. Hansraj Jaria appointed as the Interim Resolution Professional (IRP). A public announcement was made, and the Committee of Creditors (CoC) was constituted. Initially, Youngster Projects Private Limited's resolution plan was approved by the CoC, but they subsequently withdrew due to medical and financial hardship, leading to the forfeiture of their Earnest Money Deposit (EMD). Following this, Standard Capital Markets Limited submitted a new resolution plan, which was unanimously approved by the CoC with a 100% voting share.
The Corporate Debtor (Paymark Payment Technologies & Services Private Limited) was admitted into Corporate Insolvency Resolution Process (CIRP) by an order dated 13th December, 2024.
Mr. Hansraj Jaria was appointed as the Interim Resolution Professional (IRP) for the Corporate Debtor.
A public announcement of the CIRP initiation was published on 19th December, 2024, in Business Standard (English) and Aajkal (Bengali) and Ekdin (Bengali) newspapers.
The last date for submission of claims as per the public announcement was 01st January, 2024.
The Committee of Creditors (CoC) was constituted by the IRP on 8th January, 2025, comprising one unsecured Financial Creditor.
…The last date for submissions of claim as per…
The Corporate Debtor (Paymark Payment…